athenahealth (ATHN) PT Raised to $137.00 at Canaccord Genuity

athenahealth (NASDAQ:ATHN) had its price target upped by analysts at Canaccord Genuity from $123.00 to $137.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the health services provider’s stock. Canaccord Genuity’s target price indicates a potential downside of 3.04% from the stock’s previous close.

The analysts wrote, “We remain neutral on the stock until we get a better understanding of the restructuring initiatives, financial predictability, and the go-forward growth strategy. Pre-call takeaways: Upside to revenue, with significant bottom-line beat. Rev. of $329.2M (+14.2%) beat our est. $324.8M and cons. $320.0M, and came in at the high end of implied guidance range $309-$329M. Beats on adjusted gross margin and all expense line items enabled the company to post non-GAAP op. inc. of $77.6M (+82.6%), far surpassing us and cons. both near ~$45M and implied guidance of $38-53M. Adj-EPS of $1.11 also beat our est. $0.65 and cons. $0.63.””

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ATHN has been the subject of several other reports. Leerink Swann set a $155.00 price target on athenahealth and gave the stock a “hold” rating in a report on Thursday, October 19th. BidaskClub raised athenahealth from a “sell” rating to a “hold” rating in a report on Saturday, December 16th. Jefferies Group set a $110.00 price target on athenahealth and gave the stock a “hold” rating in a report on Friday, October 13th. Robert W. Baird decreased their price target on athenahealth from $170.00 to $155.00 and set an “outperform” rating for the company in a report on Sunday, October 22nd. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $145.00 price target on shares of athenahealth in a report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.30.

Shares of athenahealth (NASDAQ ATHN) traded down $0.95 during midday trading on Thursday, hitting $141.30. The company had a trading volume of 1,227,198 shares, compared to its average volume of 535,514. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.32. athenahealth has a 52-week low of $95.01 and a 52-week high of $158.66. The firm has a market capitalization of $5,680.00, a P/E ratio of 108.85, a PEG ratio of 3.20 and a beta of 1.35.

athenahealth (NASDAQ:ATHN) last issued its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.48. athenahealth had a return on equity of 9.21% and a net margin of 4.35%. The firm had revenue of $329.20 million during the quarter, compared to the consensus estimate of $319.64 million. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. research analysts expect that athenahealth will post 2 EPS for the current year.

In other news, Director Amy Abernethy sold 500 shares of athenahealth stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $134.18, for a total transaction of $67,090.00. Following the completion of the transaction, the director now owns 4,045 shares of the company’s stock, valued at approximately $542,758.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Bush sold 30,000 shares of athenahealth stock in a transaction on Wednesday, December 26th. The stock was sold at an average price of $134.80, for a total value of $4,044,000.00. Following the transaction, the chief executive officer now directly owns 320,807 shares of the company’s stock, valued at approximately $43,244,783.60. The disclosure for this sale can be found here. Insiders have sold a total of 68,050 shares of company stock valued at $9,161,851 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in athenahealth by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock worth $166,000 after purchasing an additional 84 shares in the last quarter. ProShare Advisors LLC purchased a new stake in athenahealth during the 2nd quarter worth about $205,000. Ameriprise Financial Inc. purchased a new stake in athenahealth during the 2nd quarter worth about $206,000. QS Investors LLC increased its position in athenahealth by 120.3% during the 2nd quarter. QS Investors LLC now owns 1,648 shares of the health services provider’s stock worth $232,000 after purchasing an additional 900 shares in the last quarter. Finally, 1st Global Advisors Inc. purchased a new stake in athenahealth during the 2nd quarter worth about $243,000.

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athenahealth Company Profile

athenahealth, Inc provides network-based medical record, revenue cycle, patient engagement, care coordination and population health services. The Company also offers Epocrates and other point-of-care mobile applications. The Company delivers majority of its service offerings through a single instance of cloud-based software, athenaNet.